$15 hr min wage and SSN

Discussion in 'Political Opinions & Beliefs' started by nra37922, Feb 22, 2021.

  1. nra37922

    nra37922 Well-Known Member

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    If the minimum wage goes to $15 hr. should not SSN benefits go to at least $2400 per month and be income tax free?.
     
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  2. nra37922

    nra37922 Well-Known Member

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    I've changed my mind on the above and instead propose a Senior Citizen Relief Act where increases in SSN would not only include the so called COLA increase but would also include any increase of minimum wage by percentage of said increase. So if the min wage jumps to $15 an hr versus the current $7.25 SSN recipients would get a 48.33% increase in their monthly check.

    I would also add that no IRS tax be taken out.

    Otherwise, the politicians are pushing grandma off a cliff...
     
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  3. lemmiwinx

    lemmiwinx Well-Known Member Donor

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    Elect a Republican today if you want your taxes to go down. I was a Rush baby in his early syndication days so I know what I'm talking about.
     
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  4. stratego

    stratego Well-Known Member

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    SSN should go up to adjust. Then a mcnugget to go up to $5 each to adjust for the increases labor cost. Then a supervisor would want to make $50k, and everyone else would want more. Then $15/hr is too little and the fight for $50/hr minimum starts.
     
  5. Bullseye

    Bullseye Well-Known Member

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    There is a formula for calculating your Social Security benefit; it’s fairly complicated if I recall correctly. It looks at your earnings history and is somewhat progressive in that lower career earners get a slightly higher percentage bassed on their history.
     
  6. 61falcon

    61falcon Well-Known Member

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    Social Security benefits are based on the workers best 35 years earnings.
     
  7. nra37922

    nra37922 Well-Known Member

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    Social Security benefits are based upon whatever Congress wants to base them on.
     
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  8. Golem

    Golem Well-Known Member Donor

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    I think the minimum at 66 for somebody who has worked their whole life is $850, or something like that, right? I don't know if $2400 (though it doesn't sound unreasonable), but the minimums should definitely increase.
     
    Last edited: Feb 22, 2021
  9. GrayMan

    GrayMan Well-Known Member

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    I guess, but I am not paying higher social security so that someone else who paid lower social security their whole life can reap the benefits of my labor. Since they have been paying lower social security costs for years, they should have had ample opportunity to save their own money. Not to mention, the pension is something only the older generations get to enjoy.
     
    Last edited: Feb 22, 2021
  10. AZ.

    AZ. Banned

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    Well lord god Reagan is the one whos brilliant idea was to tax SS!
    Ya know the original lie, that he never raised taxes!
    https://www.fedsmith.com/2013/10/11/ronald-reagan-and-the-great-social-security-heist/

    Instead of being a proud day for America, April 20, 1983, has become a day of shame. The Social Security Amendments of 1983 laid the foundation for 30-years of federal embezzlement of Social Security money in order to use the money to pay for wars, tax cuts and other government programs.

    The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue. This surplus revenue was supposed to be saved and invested in marketable U.S. Treasury bonds that would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that money went to Social Security.
     
  11. Marcotic

    Marcotic Well-Known Member

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    We should stop taxing SS, and remove the contribution cap first. But yeah, I would be aces with payments going up.
     
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  12. ButterBalls

    ButterBalls Well-Known Member

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    I think it adjusted to the price of dog and cat food, generic brands one can a day ;)
     
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  13. Maccabee

    Maccabee Well-Known Member

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    Yes.
     
  14. spiritgide

    spiritgide Well-Known Member Donor

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    Any businessman will tell you that all employers real cost is around 150% of their wage or salary, because that cost includes many benefits and expenses beside the wage- and they are proportionate. So if a $10 employee is paid $15, the real cost goes from $15 to $22.50. That increase of course will telegraph upstream, meaning employees are any level will wind up with similar raised. That change in costs must be made up with the price of the goods produced- plus, all the materials and services required to those good will also increase, meaning everything you buy will see a price increase at least proportionate to the wage increase. What WILL NOT CHANGE is the volume of production, thus the increases in cost are totally inflationary; and the wage increase does nothing to increase the buying power of the employee in the long run. It's a feel-good delusion, a cheap political ploy to sell promises for votes and deliver- nothing.
     
  15. Doofenshmirtz

    Doofenshmirtz Well-Known Member Donor

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    Workers and retired seniors would be no better off buying their needs from businesses paying their own employees $15 and passing the cost to the consumer. Raising min wage is only a raise for the tax man.
     
  16. spiritgide

    spiritgide Well-Known Member Donor

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    You are right- a lot of people would find themselves even at a higher rate, but at a minimum, paying more taxes.

    Raises not relevant to productivity are simply inflation, and nations who get caught up in that nonsense sometimes see their money become worth less than the paper it's printed on.
    They say in Venezuela, it takes more weight in paper cash to buy a roll of toilet tissue than the roll of tissue weighs.

    Another less well known place with massive inflation is Zimbabwe.

    Take this bill in Zimbabwe dollars for example- It costs $3 to buy one on Ebay. The Trillion dollar bills are higher.

    upload_2021-2-23_13-33-48.jpeg
     
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  17. Doofenshmirtz

    Doofenshmirtz Well-Known Member Donor

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    Perfect examples. If politicians really cared about the low wage worker, they can just stop taking their money.
     

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